BNB Rebounds, Reclaims $1,000! BNB Chain Proposes 50% Gas Fee Reduction
TradingKey – Proposal aims to lower costs and increase speed for BNB Chain, potentially attracting more developers and providing long-term tailwinds for BNB.
Wednesday, September 24 – While the broader crypto market remained sluggish with major cryptocurrencies trending downwards, Binance Coin (BNB) defied the trend, climbing back above the $1,000 mark. Over the past 24 hours, BNB is up 1.2%, currently trading around $1,016.
Top 10 Cryptocurrencies by Market Cap, Source: CoinMarketCap.
The positive movement follows a new proposal from BNB Chain validators to significantly optimize the network. The proposal suggests slashing the minimum gas price by 50%, from 0.1 Gwei to 0.05 Gwei. Concurrently, it aims to reduce the target block time from 750 milliseconds to 450 milliseconds.
This substantial reduction in transaction costs coupled with faster processing speeds is expected to enhance BNB Chain's competitiveness against rivals like Ethereum (ETH) and Solana (SOL). The move could further boost its Total Value Locked (TVL), positioning it as a significant fundamental positive for BNB.
Related Articles
H-1B Policy Shock: Challenges for the Tech Industry and U.S. Stock Market Investments
TradingKey - The H-1B visa allows foreign professionals to work legally in the United States, primarily targeting talent in science, technology, engineering, and mathematics (STEM) fields.
U.S. August PCE: Inflation Remains the Market's Greatest Risk
Our baseline forecast anticipates sustained asset price increases. However, if inflation surpasses market expectations in the coming months, it could hinder further rate cuts and pose the greatest risk to financial markets.
Memory Giant Micron Delivers Stellar Q4 FY2025 with Explosive DRAM and HBM Growth
TradingKey - Micron Technology, Inc. (NASDAQ: MU) delivered a stellar Q4 FY2025 earnings report, exceeding expectations on revenue, earnings, and margins. The company reported total revenue of $11.32 billion, up 46% YoY and 22% sequentially, surpassing the consensus forecast of $11.1 billion.
Fed Rate Cuts: Will the Russell 2000 Outperform the S&P 500?
TradingKey - On 17 September, the Federal Reserve cut interest rates by 25 basis points, marking the official restart of the rate-cutting cycle. In theory, small-cap stocks, compared to large-cap stocks, benefit more from Fed rate cuts. This is because they are more reliant on external financing...
Powell's Jackson Hole Speech: For U.S. Stocks, Hawk or Dove Signal Could Be a Lose-Lose?
TradingKey - As U.S. inflation and labor market data show signs of rebalancing, Treasury traders and Wall Street banks have largely priced in a rate cut at the September FOMC meeting — the first of 2025. Yet both a more dovish-than-expected tone and a potential surprise hawkish signal from Fed Chair
